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Airbus: Latin American airlines need over 2300 new aircraft in next 20 years

18-Nov-2013 8:33 AM

Airbus predicted (15-Nov-2013) Latin American carriers will require 2307 new aircraft between 2013 and 2032, worth an estimated USD292 billion, breaking down as 1794 single-aisle aircraft, 475 twin-aisle and 38 "very large aircraft". Airbus noted the region's GDP is growing "above the world average" at 3.6% p/a versus 2.6% globally, and that more than half the region's population will be classified as middle class by 2032. Airbus also foresees annual Latin American traffic growth to outperform the world average, at 4.7% regionally versus 5.2% globally. These factors will boost consumer spending and translate into air transport becoming more accessible. Airbus sees room to grow in the region, noting that only 40% of Latin America's top 20 cities connect passengers with at least one flight per day, versus 100% in North America and Europe. Airbus predicts intra-regional and domestic traffic to represent the biggest market for Latin carriers, growing at an "impressive" 6.3% p/a. Long-haul traffic is an area where Latin carriers have room to grow, according to Airbus, as they represent just 19% of the region's long-haul traffic, a figure which reaches 40% in North America and Europe. Airbus has "over" 500 aircraft in service in the region, and has tripled its in-service fleet in Latin America while delivering 60% of the region's aircraft over the past ten years. [more - original PR]